Here are some of the things we may want to consider.
Put your right hand in front of you in a Flat, Level and Vertical position, with your right forearm parallel to the ground. Have your fingers relaxed, so they are neither fully straight nor clenched in a fist. If you just let your wrist "hang" you should find it reaches the Level condition naturally.
Now simply Bend your right wrist, keeping everything else the same and remaining relaxed. Notice how, amazingly, your right wrist is no longer "Homer Kelly Level". Now is this acceptable in a full swing? Should we still call this 'Level' for practical purposes? Interesting questions, and certainly debatable, but my answer is yes to both.